April 8, 1999 | Read Time: 1 minute
*U.S. Reps. Philip M. Crane, Republican of Illinois, and Richard E. Neal, Democrat of Massachusetts, have introduced a bill, HR 1311, that would allow people age 59 1/2 and older to donate assets from their individual retirement accounts to a charity without incurring an income-tax liability. Mr. Crane also has co-sponsored a second charity-related bill, HR 1310, that would allow people who do not itemize their deductions to deduct 50 per cent of the value of their charitable con- tributions that exceed $500 for a given year. That means a person who contributed a total of $1,000 would be able to write off $250.
*The Freedom Alliance, a conservative public-policy charity, has taken the I.R.S. to court to try to win back its tax-exempt status. The I.R.S. said it pulled the tax exemption because of a radio commentary that violated a federal law that prohibits charities from getting involved in political campaigns. The service also said that the group, which was founded by Oliver L. North, a controversial figure in the Iran-Contra scandal in the 1980s, railed against an unnamed government office in a way that improperly benefited one of the organization’s top officials.
